Most companies spend vast amounts of money on "getting their name out there" and competing for market share. There is another much more effective method and doesn't cost a cent. It's called Word of Mouth "WOM".
The business tip for this week is about "spreading the good word"...it's called advertising and marketing.
WOM means communication about products and/or services between people who are perceived to be independent of the provider, in a medium perceived to be independent of the provider.
Here are 10 powerful reasons to develop your WOM strategy...
The following tips come from a book "The Secrets of Word-of-Mouth Marketing" by George Silverman who makes these points about "WOM marketing", the force we all wish we had for our products and services.
1. Its the most powerful, influential, persuasive force in the marketplace.
We all know this innately -- you can ponder forever, but when your sister calls and says , You gotta try.... we get online and buy. It has credibility.
2. Its something that gives the buyer the experience of the product or service.
It's an ‘experience-delivery’ mechanism, he says. This means -- we deliberate before buying something and then we want to try it before we buy it. This is the purpose of the test-drive in the new car, or the free initial coaching session. There are only two ways for people to get experience - actually trying it or hearing about someone else's experience.
3. Its independent, so it's credible.
At some level, we just aren't going to believe what the company or the professional says. We know they have a vested interest.
4. It becomes part of the product itself.
This is like when it gets a thumbs-up.
5. WOM is delivered directly to you, so it's custom-tailored, relevant and complete.
No ad can speak directly to you as a unique individual. When a friend is describing it to you, however, they're talking about the product or service for you.
6. Its self-generating and self-breeding, and it grows exponentially, sometimes explosively.
This is the experience you get when you go to the footy and everyone's talking about taking a vacation by rail. It's the thing to do!
7. Its unlimited in speed and scope.
An example of this would be jargon or phrases that go around. A saying that is popular at present is, “calm your farm” or chill out and or you will suddenly start hearing a phrase. "Put your own spin on it," or "if you're not the lead dog, the view's always the same." Suddenly it's in every conversation.
8. It can originate from a single source, or a relatively small number of sources.
Influencers like to influence, Silverman points out, and we know they do. You also know the thrill of being the one who can walk into the room and announce the product you've found that's the answer to everyone's problem. This is how it feeds and spreads. The next person can't wait to get on the phone either.
9. It can be tremendously time-saving, efficient, and labor-saving.
You can see that the thing has its own life.
10. It can be very inexpensive to stimulate, amplify, and sustain.
We all like to call someone we know has high standards and investigates products thoroughly and ask them what to buy. I know just whom to call. I'm sure you do too. Get your service or product on 'the other end' of this, and people will come to you; you don't have to go looking.
So get out there and spread the good word...it's called advertising and marketing.
